Virtu Financial LLC Buys Shares of 11,432 Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Virtu Financial LLC purchased a new position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,432 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its position in Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after buying an additional 88,102 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Virgin Galactic by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock worth $1,143,000 after purchasing an additional 42,883 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Virgin Galactic in the second quarter worth $492,000. Nisa Investment Advisors LLC increased its holdings in Virgin Galactic by 908.5% in the third quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after purchasing an additional 49,693 shares during the period. Finally, Zacks Investment Management raised its position in Virgin Galactic by 40.3% during the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock worth $216,000 after purchasing an additional 10,172 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley cut their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.50.

Virgin Galactic Price Performance

Shares of NYSE SPCE opened at $6.10 on Friday. The company has a market capitalization of $176.14 million, a PE ratio of -0.35 and a beta of 1.75. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $6.83 and its 200-day moving average price is $7.41. Virgin Galactic Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Wednesday, November 6th. The company reported ($2.66) EPS for the quarter, topping analysts’ consensus estimates of ($4.10) by $1.44. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.47 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. During the same period in the previous year, the business posted ($5.60) EPS. On average, equities analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

About Virgin Galactic

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.